The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-08-06
NOT ENCOURAGING.
II. g. DUNN e cos WEEKLY REVIEW
me Wheels OF rrnlU liiorked Unpieasantly
Tho Perniclous Influence of Grent specu.y
@tions-Tho Demand for Money Is
Far Greater Than the supply,

New foRE, August Or. G. Dun & Cc
In their weekly review OF trade say:
The collapse Of the California whea
ring teaches the old leason tina. every bod
Is stronger than any body, and not svel
bonanza wealth can, with impunity, def,
the lava Of trade. Effects IN Atlanti
markets, through changes In railroad an,
Geographic operations, cannot yct be an
tlclpated even In San Francisco, and th,
results are hidden, the Board having GUS
pended as well as the pool. But the losse
Of six or seven millions will fall heayil,
somewhere, and the wheat held by til,
ring to be 100000 bushela In California
100000 on sea and 100000 in Liver
pool, hangs over the market, threatening
continued depression abroad and here.
stocks tumbled again, but have recoy.
cred little. On Saturday they averaged
20 per share lower than July 2, and So
lower than In January, and we're a tritle
lower than a ycar ago, but to-day the
market was stronger. ,U-a. -.
TIE SHIPMENTS OF WHEAT, ~
Railroads arc pressed by the lowest lake
rates Of the year--three cents for wheat
from Chicago to Butato-aud in June tho
canal moved to New York 7,4OO, 600
against 100000 by trunk lines,
Secretary Fairchild offers to prepay in.
terest With rebate, and to buy bonds, II
offered low enough, but the men VINO have
bonds are not those who need money in a
pinch. Only Si.500,0O0 interest payable
bonds are certain to be- drawn unlees the
rebate IL hereafter abandoned, and
whether banks or permanent investors
VIII cell bonds at acceptable terms is uncer.
tain.
The reports from the interior point al.
most uniformly favorable, but money ia
already reported tight in Kansas City,
Atlanta and some other points. The de.
mand appears greater than the supply at
cleveland and Omaha, and collections are
less satisfactory at several centres. Crops
are ieas favorably reported in Michigan
and Georgia, and harvesting in the North.
Weet shows disappointing results accord
ing to Ut. Paul adyices, but elsewhere ac.
counts are excellent. at the East heavy
shipments OF money Test, and large en-
gsgements for the iuturs attract stten.
ton. Boston has put $40 900 600 into
new undertakings and pledge $50 900 900
more. A similar, though small drain ia
felt ut Philadelphia.
IRON AND WOOL INTERESTS.
Recent exports are not large, the ship
ments from New York for five weeks be-
ing I per cent below those of last year,
with per cent increase in importa. The
heavy imports of iron in June-54 667
tons Of pig, Al ,l33 Of scrap and 81 ,GB5 OF
Observation-Disclosures less confident
tone; rails are offered to delivery by
Soma makers st s37 so. Wool is alao
offered lower by some holders, and the
woo!en goods market showa no great
activity; print cloths are lower, but other
cottons are firmly held.
In brief, great speculations have un-
pleasantly blocked the wheels OF trade in
many branches, and absorbed or locked
up vast SUMS Of money which will be
wanted during the fall. But for their per-
nlclons Influence, the outlook would be
iar more encouraging. Business failures
during the. last seven days number for the
United State 1853, Canada 20, total 1888,
compared with lS4 last week, and l54 the
corresponding week last year.